Description: The Idol has several life insurance products you can choose from. Level Term Life Insurance has the same level of cover throughout the term; you choose the number of years you want the policy to stay in force and the level of cover at the beginning. Mortgage Life Insurance pays off the outstanding balance of the mortgage on your home with a cash sum, should you die before the end of the policy term, helping your family’s financial situation. With the Critical illness option added to whichever of these two plans, the benefit will pay out either on death or on the diagnosis of the specified illness, whichever occurs first. No cash value is attached to these two products, so if you survive the term and the sum insured did not become payable, nothing will be paid out. The Idol life insurance also offers the Critical Illness Insurance plan, which pays out a sum upon the diagnosis of a specified serious illness. If you have not suffered any of the special serious illnesses, nothing is paid out when the policy ceases. With any of these products, you can take either a single life plan or a joint life policy, where the sum insured is paid at the first death/occurrence of illness. The Long Term Income Protection Insurance (Permanent Health Insurance) is another product offered by the company, which pays you a regular income if an illness or injury prevents you from working, for the entire period you are not able to work, until the end of the policy term.
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